Downstream Capacity Outlook

A peak in earlier years

Around this time last year, we were expecting refining capacity in East Asia to grow by 4.1m b/d and by 1.9m b/d in the Middle East in the five years to 2022. Today, we expect the five years to 2023 to add slightly less capacity in East Asia (3.5m b/d) and roughly the same (1.8m b/d) in the Middle East.